Welcome to our dedicated page for Pebblebrook Hotel Trust news (Ticker: PEB), a resource for investors and traders seeking the latest updates and insights on Pebblebrook Hotel Trust stock.
Pebblebrook Hotel Trust (NYSE: PEB) is a publicly traded real estate investment trust (REIT) specializing in the strategic acquisition and investment in upper-upscale, full-service hotels in prominent urban centers and gateway cities across the United States. Established to capitalize on prime hotel properties, Pebblebrook's portfolio comprises 46 hotels totaling approximately 11,924 guest rooms. The company emphasizes properties in major markets such as San Francisco, Los Angeles, Boston, New York, Miami, and Washington, DC, among others.
Pebblebrook Hotel Trust's properties are diverse, including both independent and branded luxury hotels managed under reputable names like Marriott, Starwood, InterContinental, Hilton, and Hyatt. This strategic diversification ensures a robust market presence and caters to a wide range of high-end travelers.
In December 2018, Pebblebrook notably acquired LaSalle Hotel Properties, which added 41 hotels with 10,451 rooms to its portfolio. Since then, the company has been active in refining and optimizing its portfolio through selective sales and acquisitions, focusing on enhancing the overall quality and performance of its investments.
The company recently unveiled a significant $25 million renovation at the Jekyll Island Club Resort and the Jekyll Ocean Club. This transformation highlights Pebblebrook's commitment to preserving historic assets while modernizing guest experiences. These efforts include updates to guest rooms, public spaces, and dining areas, all designed to maintain the resort's historical integrity and natural charm.
Pebblebrook Hotel Trust's strategic initiatives also extend to partnerships and collaborations aimed at boosting its market position and delivering superior guest experiences. Their focus on high-demand urban and resort markets ensures sustained growth and resilience against market fluctuations.
Financially, Pebblebrook continues to demonstrate robust performance, underpinned by strong revenue streams from its premium hotel properties. Their approach to maintaining a diverse yet coherent portfolio positions them well within the competitive landscape of luxury hospitality.
For more information about Pebblebrook Hotel Trust, including the latest updates and developments, visit their official website at www.pebblebrookhotels.com.
Pebblebrook Hotel Trust (NYSE: PEB) announced the redemption of 5,000,000 Series D Cumulative Redeemable Preferred Shares, pending completion of its Series H Offering. The redemption amount is set at $25.00 per share, plus accrued dividends, ceasing on the Redemption Date of August 21, 2021. Holders must surrender their shares to Equiniti Trust Company for payment. The company owns 52 hotels with approximately 12,800 guest rooms across the U.S., predominantly in major urban and resort markets.
Pebblebrook Hotel Trust (NYSE: PEB) has acquired the historic Jekyll Island Club Resort for $94.0 million. This 200-room resort, significant for its late 19th-century architectural charm, is located within the Jekyll Island National Landmark Historic District. Managed by Noble House Hotels & Resorts, the resort offers over 14,000 square feet of meeting space and several dining options. Forecasts indicate a 68% occupancy rate for 2021, with projected revenues including $7.6 million in hotel EBITDA. This acquisition expands Pebblebrook's portfolio to 52 properties.
Pebblebrook Hotel Trust (NYSE: PEB) announced the pricing of an underwritten public offering of 10,000,000 of its 5.700% Series H Cumulative Redeemable Preferred Shares at $25.00 per share, totaling net proceeds of approximately $242.0 million. The offering is set to close on July 27, 2021, subject to customary conditions. The proceeds will be used to redeem outstanding Series C Preferred Shares and possibly Series D or E Preferred Shares, as well as for general corporate purposes, including potential hotel acquisitions and debt reduction.
Pebblebrook Hotel Trust (NYSE:PEB) reports continuous improvement in operating trends, expecting positive Adjusted EBITDA in Q2 2021 and positive Adjusted Funds from Operations (FFO) in Q3 2021. The company, which owns 51 hotels with about 12,600 guest rooms across key urban and resort areas, emphasizes its focus on west coast cities. For more details on current trends, visit their investor presentation online.
Sabre Corporation (NASDAQ: SABR) partners with Curator Hotel & Resort Collection to provide its hospitality solutions to independent hotels. This agreement allows Curator members access to Sabre's advanced retailing and distribution tools, enhancing guest personalization and revenue opportunities. Sabre's industry-leading SynXis Central Reservations connects nearly 900,000 travel agents and 700 online channels. Curator supports independent hotels with effective operational agreements while retaining their uniqueness. This collaboration aims to boost traveler confidence and response as the hospitality industry recovers post-COVID-19.
StayNTouch has been chosen as the preferred property management system (PMS) partner by Curator Hotel & Resort Collection, which comprises independent lifestyle hotels. This partnership will enable Curator's hotels to utilize StayNTouch’s guest-centric cloud solutions, enhancing operational efficiency amid current staffing shortages. Both companies emphasize the need for flexible and robust technology to support unique guest experiences. Pebblebrook Hotel Trust is the founding member of Curator, which operates a diverse portfolio of 51 hotels across the U.S.
Pebblebrook Hotel Trust (NYSE: PEB) provided an update indicating ongoing improvements in operating trends, projecting positive Adjusted EBITDA in Q2 2021 and positive Adjusted Funds from Operations (FFO) in Q3 2021. The Company plans to acquire the 369-room Margaritaville Hollywood Beach Resort for $270 million, potentially taking on $161.5 million in secured debt. Additionally, Pebblebrook intends to market the 189-room Villa Florence for sale. The acquisition is subject to completion conditions, and there's no assurance it will proceed as planned.
Pebblebrook Hotel Trust (NYSE: PEB) has declared a quarterly cash dividend of $0.01 per common share, payable on July 15, 2021 to shareholders recorded by June 30, 2021. Additionally, dividends for preferred shares include $0.40625 for Series C, $0.39844 for Series D and E, and $0.39375 for Series F, also payable on July 15, 2021. As a leading REIT, Pebblebrook manages 51 hotels across major U.S. markets, emphasizing urban and resort lifestyle properties.
Pebblebrook Hotel Trust (NYSE: PEB) announced the sale of its leasehold interest in The Roger New York for $19.0 million to a third party. The transaction, finalized on June 10, 2021, involves a ground lease with approximately 23 years remaining. Proceeds will be used for general business purposes, including potential debt reduction and hotel property investments. Pebblebrook is the largest owner of urban and resort lifestyle hotels in the U.S., operating 51 hotels with about 12,600 guest rooms across 13 markets.
Pebblebrook Hotel Trust (NYSE: PEB) reported improving operating trends, predicting positive Adjusted EBITDA in Q2 2021. Leisure demand is strong, while business travel is recovering. The Company's liquidity is estimated at $950 million, with no significant debt maturities until Q4 2022. Pebblebrook has over $330 million for acquisitions following recent asset dispositions. Ongoing renovations across half of its portfolio are expected to enhance hotel EBITDA growth.
Additionally, Pebblebrook has a contract to sell The Roger New York for $19 million, though completion is uncertain.
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